One of the fastest growing shipowners in Indonesia is readying an entry into the dry bulk trades.
PT Buana Lintas Lautan (BULL), a company with a diverse mix of 33 tankers in its fleet, is looking to diversify its earnings base.
Kevin Wong, BULL’s president director, told Splash that prices for secondhand dry bulk tonnage appear attractive and the company is keen to make its first bulker acquisitions.
“We are looking for selective opportunities in this sector not only as a growth opportunity, but also importantly as a hedge,” Wong said.
BULL’s tanker fleet has grown in deadweight terms by around 12 times in size since 2013, totalling 2.3m dwt today. This growth helped the company post a net profit of $19.7m in the first quarter of 2020.
On Monday, Maritime CEO will carry a full interview with the BULL boss.